US hiring grinds to a near-halt; many stop looking for work

[OMGImInPattaya]

Of course hiring has almost come to a halt...there's hardly anyone left in need of or looking for a job. When the unemployment rate falls to 5% or less, the economy is basically at full employment.

Good job Barack...take a bow on your way out the door ☺

[connda]

While unemployment slid from 5 percent to 4.7 percent

This is totally statistical BS. The unemployment is close to 25%. This is utterly sickening.

[elgordo38]

Surely you don't belive all this rubbish like all the other dumb downed sheeple. The US is in her worst state in 8 years. She is in recession heading for collapse!

With over 100 million receiving some sort of government assistance says it all. 4.7% unemployment is just Obama peddling fiction once again. The only President since Hoover not to achieve 3% GDP. Some recovery.

Where do you guys get this drivel from? Do you read it or just make it up?

The US has not been in recession other than the W Bush GFC aftermath. Unless you have a Crystal Ball the US is not even close to a recession the last 27 quarters have shown positive growth bar two slight negative quarters.

10 quarters showed +3% GDP Growth. 6 quarters showed 4% and above.

It borders on delusional.

Time to start looking out the front windshield forget what the rear view mirror tells you. The glory days are over. The system is so rotten and corrupt just look at the quality of the candidates vying to be president. Why is this because the people are fed up with the status quo. If things are as good as you state why are the people looking for change? Fudge numbers no longer can stand the smell test. You can fool some of the people some of the time but not all of the people all of the time.

Edited June 4, 2016 by elgordo38

[Boon Mee]

While unemployment slid from 5 percent to 4.7 percent

This is totally statistical BS. The unemployment is close to 25%. This is utterly sickening.

And the Black unemployment rate is staggering. Seen the numbers of shootings in Chicago so far this year?

[up2u2]

While unemployment slid from 5 percent to 4.7 percent

This is totally statistical BS. The unemployment is close to 25%. This is utterly sickening.

So that would mean the unemployment rate during W Bush was 8% x 5 = 40%

[OMGImInPattaya]

While unemployment slid from 5 percent to 4.7 percent

This is totally statistical BS. The unemployment is close to 25%. This is utterly sickening.

And the Black unemployment rate is staggering. Seen the numbers of shootings in Chicago so far this year?

I'm not sure I follow...you don't have a job so you go out and shot somebody; is that considered a resume builder these days?

[Scott]

Off-topic posts removed.

[NovaBlue05]

While unemployment slid from 5 percent to 4.7 percent

This is totally statistical BS. The unemployment is close to 25%. This is utterly sickening.

So that would mean the unemployment rate during W Bush was 8% x 5 = 40%

It was mostly hovering in the "full employment" range until the last few months of his 2nd term when the financial crash blew everything up.

[F430murci]

Obamacare and some of his regulations at work.

[F430murci]

While unemployment slid from 5 percent to 4.7 percent

This is totally statistical BS. The unemployment is close to 25%. This is utterly sickening.

And the Black unemployment rate is staggering. Seen the numbers of shootings in Chicago so far this year?

The consequences of abondinning an education for the thug life and a diet of lean and weed.

[F430murci]

Love living in such a simple little world where one black guy named Obama is responsible for 300,000,000 people finding or looking for employment and Ronald Reagan gave birth to 80,000,000 male and female baby boomers, with both sexes fully employed in their prime working years in the 1980's and 1990's but..... it was Ronald Reagan that did that.. and now we have the horrible Obama.... and climate change is a Chinese hoax. Maybe the Chinese have a much better system. Is that why that is now a favorite topic instead of the things we really need to do something about? The ice sheets in West Antarctica weren't put there by little Chinese guys.

Its high time for a dislike button. Reagan was an actor lets leave it at that.

In response to the original post as I don't feel like scrolling back, the economy simply cannot support as many jobs today as it did back in the 80s. Thanks to the marvel of technobology, Internet competence and efficiencies of modern times, there are fewer and mom and pop businesses cannot compete and there are fewer and fewer jobs for the less skilled and less educated.

[NovaBlue05]

The recession likely showed a lot of businesses that they could get by fine with fewer human resources. anyway.

[willyumiii]

This is the Obama recovery we've been lied to about. It's the slowest economic recovery since WWII. That guy has got to go. He loves to ship jobs to other countries and bring in foreign "workers". Get him the hell out of here.

Cheers.

Let's not forget what Obama is trying to recover from

The damage done by GW Bush and his republican handlers.

And don't forget about the GOP obstructing everything he has tried to improve the situation of the country.

Don't fool yourself into thinking republicans will do a better job of recovering from republican damage.

Their plan is to turn the clock back to the GW days and " Make America Great Again".

It was not so great when so many lost their savings, their homes, and their jobs...was it?

Edited June 4, 2016 by willyumiii

[NovaBlue05]

I guess in a perfect world, we would be able to count on key govt regulatory committees such as the House Financial Services and Senate Banking Committees to oversee the banking cartel and others on Wall St and keep them from pillaging our personal savings, pension funds & treasury but I guess that isn't the case. In the two years leading up to the crash, both were led by Democrats so there is plenty of blame to go around. I'm sure the two Chairmen profited well from keeping the illusion going right up to the edge of the cliff and beyond.There are no innocents, or even "lessor of evils" in Congress.

[NeverSure]

This is the Obama recovery we've been lied to about. It's the slowest economic recovery since WWII. That guy has got to go. He loves to ship jobs to other countries and bring in foreign "workers". Get him the hell out of here.

Cheers.

Let's not forget what Obama is trying to recover from

The damage done by GW Bush and his republican handlers.

And don't forget about the GOP obstructing everything he has tried to improve the situation of the country.

Don't fool yourself into thinking republicans will do a better job of recovering from republican damage.

Their plan is to turn the clock back to the GW days and " Make America Great Again".

It was not so great when so many lost their savings, their homes, and their jobs...was it?

Let's not forget what Obama is trying to recover from

After 7 1/2 years, it's all his, baby.

The damage done by GW Bush and his republican handlers.

GWB inherited a recession from Bill Clinton. I don't and never did like Bush, but he was stuck with the Community Reinvestment Act (CRA) which Clinton put in place and which tore the guts out of the housing market by ordering banks to make loans to people who didn't qualify. Clinton also put the fuel to NAFTA and began really shipping jobs out of the US.

And don't forget about the GOP obstructing everything he has tried to improve the situation of the country.

For the 1st 4 years of Obama's presidency the House and Senate (the country) were controlled by the Democrats. They did such a lousy job that in 2012 the PEOPLE gave the majorities in both houses to the Republicans. Those R's have been there for 3.5 years, basically giving Obama everything he wants which is what is giving Trump traction with R's.

Don't fool yourself into thinking republicans will do a better job of recovering from republican damage.

4 years of a Dem Congress and 7 1/2 years of Obama where there has been a DOUBLING OF THE NATIONAL DEBT and Obama is still running a lousy economy.

Their plan is to turn the clock back to the GW days and " Make America Great Again".

Not a Chance. Trump is no Bush by a long shot. Bush's brother got blown out of the primaries as an example of what the R's think of the Bush methods.

It was not so great when so many lost their savings, their homes, and their jobs...was it?

Again, started by Bill Clinton and the Democrats with the Community Reinvestment Act (CRA) where anyone could buy a house and prices skyrocketed into a crash.

Cheers.

That will be $10 please.

Edited June 5, 2016 by NeverSure

[F430murci]

This is the Obama recovery we've been lied to about. It's the slowest economic recovery since WWII. That guy has got to go. He loves to ship jobs to other countries and bring in foreign "workers". Get him the hell out of here.

Cheers.

Let's not forget what Obama is trying to recover from

The damage done by GW Bush and his republican handlers.

And don't forget about the GOP obstructing everything he has tried to improve the situation of the country.

Don't fool yourself into thinking republicans will do a better job of recovering from republican damage.

Their plan is to turn the clock back to the GW days and " Make America Great Again".

It was not so great when so many lost their savings, their homes, and their jobs...was it?

Let's not forget what Obama is trying to recover from

After 7 1/2 years, it's all his, baby.

The damage done by GW Bush and his republican handlers.

GWB inherited a recession from Bill Clinton. I don't and never did like Bush, but he was stuck with the Community Reinvestment Act (CRA) which Clinton put in place and which tore the guts out of the housing market by ordering banks to make loans to people who didn't qualify. Clinton also put the fuel to NAFTA and began really shipping jobs out of the US.

And don't forget about the GOP obstructing everything he has tried to improve the situation of the country.

For the 1st 4 years of Obama's presidency the House and Senate (the country) were controlled by the Democrats. They did such a lousy job that in 2012 the PEOPLE gave the majorities in both houses to the Republicans. Those R's have been there for 3.5 years, basically giving Obama everything he wants which is what is giving Trump traction with R's.

Don't fool yourself into thinking republicans will do a better job of recovering from republican damage.

4 years of a Dem Congress and 7 1/2 years of Obama where there has been a DOUBLING OF THE NATIONAL DEBT and Obama is still running a lousy economy.

Their plan is to turn the clock back to the GW days and " Make America Great Again".

Not a Chance. Trump is no Bush by a long shot. Bush's brother got blown out of the primaries as an example of what the R's think of the Bush methods.

It was not so great when so many lost their savings, their homes, and their jobs...was it?

Again, started by Bill Clinton and the Democrats with the Community Reinvestment Act (CRA) where anyone could buy a house and prices skyrocketed into a crash.

Cheers.

That will be $10 please.

It's the Fosters and lol at Australians giving a lesson on American politics and America's economy. Kind of gotta to be here to understand what it's really like.

[Inn Between]

Am I missing something here, or wouldn't it be easiest just to transfer some of the massive amount of money that flows through the Pentagon (and much of which can't be accounted for) into rebuilding the infrastructure? Even if there's a military industrial complex whose income source is dependent on an American gov't that spends billions in military effort, that can just be transferred to an "industrial army" employed to rebuild all the falling bridges and broken highways we hear about. Those at the very top who profit the most from war can just take juicy padded contracts to repair America's infrastructure instead. A load of jobs are created, and those truly in control still get to skim the system.

Edited June 5, 2016 by Inn Between

[NovaBlue05]

Am I missing something here, or wouldn't it be easiest just to transfer some of the massive amount of money that flows through the Pentagon (and much of which can't be accounted for) into rebuilding the infrastructure? Even if there's a military industrial complex whose income source is dependent on an American gov't that spends billions in military effort, that can just be transferred to an "industrial army" employed to rebuild all the falling bridges and broken highways we hear about. Those at the very top who profit the most from war can just take juicy padded contracts to repair America's infrastructure instead. A load of jobs are created, and those truly in control still get to skim the system.

We would never know of course but it wouldn't surprise me if 40% of the federal budget is waste, fraud and other non essential pork projects design to bolster the re-election hopes of some random Congressman.

[impulse]

Am I missing something here, or wouldn't it be easiest just to transfer some of the massive amount of money that flows through the Pentagon (and much of which can't be accounted for) into rebuilding the infrastructure?

Better yet, take some of that money they're printing up, bypass the parasitic banksters and spend it directly on investment to get the infrastructure back to first world status. They could probably get most of the work done just on the money that would have been siphoned off by the banks.

I forgot where I read it, but the year after the 2008 crash, they calculated that clawing back just the bonuses the banksters paid themselves while they were crashing the economy would have been enough to offset the deficits of every state, city, and local branch of government.

Edited June 5, 2016 by impulse

[simple1]

Personally I don't believe off shoring business processing. manufacturing and so on is a black & white matter as their are pros that influence the survive-ability of companies in a very competitive global market. However, during the last Republican Administration approx 2 million US jobs were off-shored. Republicans have blocked efforts by the Obama Administration to enact legislation to address US companies engaged in offshoring jobs as well as parking profits offshore to minimise tax.

Edited June 5, 2016 by simple1

[MaxYakov]

This is the Obama recovery we've been lied to about. It's the slowest economic recovery since WWII. That guy has got to go. He loves to ship jobs to other countries and bring in foreign "workers". Get him the hell out of here.

Cheers.

I see you have absolutely no knowledge of what you're talking about.

Obama's accomplishments

1. created 14 million jobs

2. Cut unemployment by half

3. 17 million more with health coverage

4. Global climate pact

And how was the economy when Boy Wonder Dubya was in power?

After all that he must be exhausted and should certainly take another vacation.

Martha's Vineyard again?

[Asiantravel]

Worst Jobs Report In Nearly 6 Years – 102 Million Working Age Americans Do Not Have Jobs

Since Barack Obama entered the White House, 14,179,000 Americans have “left the labor force” according to the Bureau of Labor Statistics.

http://theeconomiccollapseblog.com/archives/worst-jobs-report-in-nearly-6-years-102-million-working-age-americans-do-not-have-jobs

Edited June 5, 2016 by Asiantravel

[GinBoy2]

Of course the dirty rotten truth is that the GOP control both Houses of Congress, the POTUS in reality has almost zero control over the economy, that's all down to Congress.

So we can argue endlessly over who's 'fault' it is.

But one thing I would suggest is than not a one of those business owners who shipped jobs overseas voted Democrat!

Edited June 7, 2016 by GinBoy2

[Steely Dan]

The timing of the downturn is perfect for Trump, the markets will be in headlong retreat by the time the election arrives.

Edited June 7, 2016 by Steely Dan